Update #25: Regulatory Compliance and a new Order Management Page for Bullex

Posted by The Bullex team on Nov 15, 2018 8:51:00 PM
The Bullex team

Regulatory Compliance

We’re often asked why we shifted focus from the derivatives exchange and why we have taken an extended period of time to launch Bullex. One major reason for this is our focus on regulatory compliance. There are many regulations we comply with including KYC rules, AML laws, GDPR, and we’ve established the appropriate legal entities required to operate Bullex and DCORP in a legal manner. However, regulatory compliance isn’t just saying “we comply with regulation X,” but rather a mindset that we have carried throughout the life of DCORP, and now Bullex.

Recently we’ve also seen legal action taken, or threatened, by the SEC (Security Exchange Commission) or other regulatory bodies against several cryptocurrency exchanges and related services. Here are two examples:

We’ve also seen instances of some of the more popular exchanges planning to move to required KYC for trading. IDEX is one such example, and we expect many other exchanges to change their models in a similar fashion. This is one reason that we, at Bullex, have striven to comply with all applicable rules and regulations.

Beta Update

Unfortunately, we’re not yet able to announce a firm date for the open beta due to delays from our exchange provider related to test net wallets not working properly which leads us to concerns around the main net wallets. We understand the frustration these delays have caused, but we can assure you that our runway is not being negatively impacted as a result. We cannot share the details of the arrangement at this time due to its confidential nature. As a reminder though, we still have over 1300 eth of our original fund in addition to our fiat reserves. This also doesn’t include the 8622 eth reserved for the VC platform.

We’re making use of this extra time to implement features that were previously not going to be ready for launch. One such feature is an order management page, because our exchange provider’s default offering doesn’t include much in the way of order management our developers have been working to create a solution for this! This will allow you to search and sort your orders with ease, but this is no traditional order management page. One of the unique features we think will be very useful is a built-in arbitrage feature that we will provide more details on soon. Keep your eyes open for another update on this and other features of the order management page!

In addition to the order management page and additional bugs that have been resolved, we have also added a few additional minor features as seen below:

  • Added % buttons to trade widget allowing for quick and easy trades
  • Added auto-detect for number formats to avoid confusions between commas and dots
  • Various styling improvements

VC Platform

We have no major updates to share for the VC platform at this time.

Closing Remarks

In case you missed it, you can find our last update here and the feed of all our updates here!

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If you’re interested in listing your asset or are aware of someone who is seeking listing on a regulated European-based exchange, please fill out the form here!

Thanks for reading!

Topics: New features, Bullex, Cryptocurrency, Crypto Exchange, DCORP